NEW DELHI: The Supreme Court on Monday refused to accept Vodafone Idea's proposal to pay Rs 2,500 crore by Monday and Rs 1,000 crore by Friday to Department of Telecommunications and that no coercive action be taken against it.
A bench headed by Justice Arun Mishra declined to accept the proposal given by senior advocate Mukul Rohatgi, appearing for Vodafone, after he mentioned the matter.
Rohatgi said they are willing to pay Rs 2,500 crore today and another Rs 1,000 crore by Friday but no coercive action be taken against the company.
He said the bank guarantee deposited with the government by Vodafone should also not be encashed.
Vodafone Idea, whose liability is estimated to be around Rs 53,038 crore, including Rs 24,729 crore of spectrum dues and Rs 28,309 crore in licence fee, has already warned of shutdown if no relief is given.
"As disclosed in the Company's financial statements for quarter ending December 31, 2019, the Company's ability to continue as a going concern is essentially dependent on a positive outcome of the application for modification of the Supplementary Order," the company said in the filing. The next date of hearing is scheduled for March 17, 2020.